O jogador: o guano como estratégia de reinserção do Peru nos mercados internacionais (1849-1876)

Authors

  • José Augusto Miranda Ibmec/RJ

DOI:

https://doi.org/10.4013/hist.2022.262.04

Abstract

This paper analyzes the process of building Peru's international credit between 1849 and 1875. The paper departs from the emergence of the guano global market and stresses the financial strategies developed by the Peruvian government around guano exploration concessions. The aims to answer the question of how a country with discredited institutions became the largest borrower in Latin America between 1849 and 1850, amassing a debt £ 33 million. Part of the answer lies in three strategies developed by Peruvian agents around guano exports: 1) the arrangement of loan guarantees with reputable commercial houses; 2) intense negotiation with European banks in dispute for these secured loans and 3) manipulation of reports of the fertilizer deposits. The article argues that stable institutions are not necessarily an essential prerequisite for good credit reputation for peripheral economies as the analyzed Peruvian experience has shown.

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Published

2022-05-25

Issue

Vol. 26 No. 2 (2022): Maio/Agosto

Section

Dossier

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